Airline Accessories has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182...
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Accounting
Airline Accessories has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182 million; and other current assets, $18 million. Airline Accessories has the following liabilities: accounts payable, $98 million; current portion of long-term debt, $35 million; and long-term debt, $23 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Airline Accessories
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